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Cable Update (GBPUSD)

  • #251,961
  • Sep 9, 2010 12:10pm Sep 9, 2010 12:10pm
Quoting Delite
Hi all

I know this will be of little interest, but I just wanted to say that I have had a complete lightbulb day today. For the first time since I started learning this dark art, everything finally came together and I looked at my chart, and fully understood what I was seeing.

I know that must sound really basic to some of you old hands, but it feels utterly incredible to me.

You guys have contributed so much to this day, I just wanted to say thank you and look forward to learning more with you along the way!

Nice one brother, once you have that, things become alot easier!!!
@pawpaw1000 on Twitter
  • #251,962
  • Sep 9, 2010 12:14pm Sep 9, 2010 12:14pm
Quoting 4xStar
Bearish engulfing candle forming on the 60 min, if it finishes like that, will hold my short.

BTW, the first short I took earlier on (chart posted) was at 5442, 3 positions, collected 10 pips on 1 and stopped out at b/e on last 2.
Then missed a really good long opportunity because I kept looking for a new short setup. I still have to learn that when a trade ends, erase the mental slate of any bias as to direction & just let the chart speak.
Hey 4x

I do that ALOT! but have become better of late. Guess it depends on the day

anyways, hope you caught a couple, I'm also looking to short here with top of box as s/l...

S&P at 1100 again and seems like it is finding support but might have some more profit taking before end of session... Ucad moving up so looks good for a short...

Now just confirmation on chart and entry... mmm
@pawpaw1000 on Twitter
  • #251,963
  • Sep 9, 2010 12:15pm Sep 9, 2010 12:15pm
Quoting cloggie
Ahh, but GM the "better" educated here today were adamant that equities and yields have nothing to do with currency prices.
It is called " divergence" .....the perceived "abilities" and the real results point in different directions
" Never let the past hold the future to ransom "
  • #251,964
  • Sep 9, 2010 12:17pm Sep 9, 2010 12:17pm
Quoting GlobalMacro
nice follow-thru selloff in equities following the top at ny open...
all indexes experiencing a mini-collapse as we speak...
I'm loving this...short ym since 10450...we're almost home waiting to see when this one-way street ends...
Hear the music before the song is over ...
  • #251,965
  • Sep 9, 2010 12:23pm Sep 9, 2010 12:23pm
Quoting GlobalMacro
I'm loving this...short ym since 10450...we're almost home waiting to see when this one-way street ends...
dollar tho on the other hand's chillin' 'n' takin' it easy...maybe O/N or LDN...
Hear the music before the song is over ...
  • #251,966
  • Sep 9, 2010 12:32pm Sep 9, 2010 12:32pm
Quoting pawpaw1000
S&P at 1100 again and seems like it is finding support but might have some more profit taking before end of session... Ucad moving up so looks good for a short...

Now just confirmation on chart and entry... mmm
What do you see as target for a short? ... given that you hit your last target to the pip!

PS I'm already short from that last surge upward that banked you so many nice pips.
******************* I'd rather make money than be right.
  • #251,967
  • Sep 9, 2010 12:36pm Sep 9, 2010 12:36pm
Quoting pawpaw1000
Hey 4x

I do that ALOT! but have become better of late. Guess it depends on the day

anyways, hope you caught a couple, I'm also looking to short here with top of box as s/l...

S&P at 1100 again and seems like it is finding support but might have some more profit taking before end of session... Ucad moving up so looks good for a short...

Now just confirmation on chart and entry... mmm
There are reports that DB are to raise EUR 9bn through a share sale/rights issue. Think this caused recent dip in equities, as investors questions whether this will be the first of many such raising of funds from eurozone banks.
  • #251,968
  • Sep 9, 2010 12:36pm Sep 9, 2010 12:36pm
Quoting 4xStar
What do you see as target for a short? ... given that you hit your last target to the pip!

PS I'm already short from that last surge upward that banked you so many nice pips.
just entered a short and I'm targeting 5387...

Got s/l at 5463...

What you got and where did you enter?

I'm really seeing us go south over night looking at s&p and uCad...
@pawpaw1000 on Twitter
  • #251,969
  • Sep 9, 2010 12:39pm Sep 9, 2010 12:39pm
Quoting gammase1
There are reports that DB are to raise EUR 9bn through a share sale/rights issue. Think this caused recent dip in equities, as investors questions whether this will be the first of many such raising of funds from eurozone banks.
either way, that money has to go somewhere and my guess is old DOLLORO!!!

let's see...
@pawpaw1000 on Twitter
  • #251,970
  • Sep 9, 2010 12:45pm Sep 9, 2010 12:45pm
Quoting pawpaw1000
either way, that money has to go somewhere and my guess is old DOLLORO!!!

let's see...
Not the amero or is that in the future?
  • #251,971
  • Sep 9, 2010 12:47pm Sep 9, 2010 12:47pm
Quoting gammase1
There are reports that DB are to raise EUR 9bn through a share sale/rights issue. Think this caused recent dip in equities, as investors questions whether this will be the first of many such raising of funds from eurozone banks.
also Trichet has some tough love threatening to phase out NSMs and suspension of voting rights for naughty EZ members...
Hear the music before the song is over ...
  • #251,972
  • Sep 9, 2010 12:53pm Sep 9, 2010 12:53pm
Quoting pawpaw1000
either way, that money has to go somewhere and my guess is old DOLLORO!!!

let's see...
it's flowing mostly into yen atm...
Hear the music before the song is over ...
  • #251,973
  • Sep 9, 2010 12:54pm Sep 9, 2010 12:54pm
Quoting GlobalMacro
also Trichet has some tough love threatening to phase out NSMs and suspension of voting rights for naughty EZ members...
About time on the latter point, I think.

There has to be some form of centrally enforced fiscal discipline for the euro to have any sort of long-term future, let alone for it to become a viable reserve alternative to the dollar.

It's a difficult one, though, as governments are always more inclined to act out of self-interest, in accordance with the wishes of the electorate for their own self-preservation, rather than for the common good of a currency union.
  • #251,974
  • Sep 9, 2010 12:59pm Sep 9, 2010 12:59pm
Quoting GlobalMacro
I'm loving this...short ym since 10450...we're almost home waiting to see when this one-way street ends...
Oh yeah...and the fun continues....ym @ 10376...and it's not even weekend yet...
Hear the music before the song is over ...
  • #251,975
  • Sep 9, 2010 1:01pm Sep 9, 2010 1:01pm
Quoting gammase1
About time on the latter point, I think.

There has to be some form of centrally enforced fiscal discipline for the euro to have any sort of long-term future, let alone for it to become a viable reserve alternative to the dollar.

It's a difficult one, though, as governments are always more inclined to act out of self-interest, in accordance with the wishes of the electorate for their own self-preservation, rather than for the common good of a currency union.
he does that for real....that'd be the comedy of the century imo...practically acknowledging the failure of their experiment...
Hear the music before the song is over ...
  • #251,976
  • Sep 9, 2010 1:01pm Sep 9, 2010 1:01pm
Quoting 4xStar
What do you see as target for a short? ... given that you hit your last target to the pip!

PS I'm already short from that last surge upward that banked you so many nice pips.
broke my range shortwards... we in the money now... will move s/l asap.
@pawpaw1000 on Twitter
  • #251,977
  • Sep 9, 2010 1:04pm Sep 9, 2010 1:04pm
Quoting GlobalMacro
he does that for real....that'd be the comedy of the century imo...practically acknowledging the failure of their experiment...

I would love to see some of the posters here trading the "old days" again with Francs, Dmarks, Liras, and spreads that would be larger then mosts TP's here and volatitility that can wipe out an average account here in under 30 mins.........

The old days, we walked to school uphill both ways.
  • #251,978
  • Sep 9, 2010 1:06pm Sep 9, 2010 1:06pm
Quoting GlobalMacro
he does that for real....that'd be the comedy of the century imo...practically acknowledging the failure of their experiment...
There exists a iron-clad will that this experiment simply has to work. Not that this desire alone will be enough to prop up the currency union indefinitely, should the structural problems not be addressed.

If the euro was to fail, then the whole point of the EU would be called into question, and whatever clout the EU now has on the global stage would be seriously diminished.
  • #251,979
  • Sep 9, 2010 1:09pm Sep 9, 2010 1:09pm
Quoting gammase1
There exists a iron-clad will that this experiment simply has to work. Not that this desire alone will be enough to prop up the currency union indefinitely, should the structural problems not be addressed.

If the euro was to fail, then the whole point of the EU would be called into question, and whatever clout the EU now has on the global stage would be seriously diminished.
They will never allow the Euro to fail unless the Dollar goes with it, then they will get what they want... ONE WORLD CURRENCY

Know its not the place or the time but just had to...

I believe it, let's see...
@pawpaw1000 on Twitter
  • #251,980
  • Sep 9, 2010 1:09pm Sep 9, 2010 1:09pm
Quoting cloggie
I would love to see some of the posters here trading the "old days" again with Francs, Dmarks, Liras, and spreads that would be larger then mosts TP's here and volatitility that can wipe out an average account here in under 30 mins.........

The old days, we walked to school uphill both ways.
I don't know, a long DEM/GRD trade would be a nice one to jump on....

The trouble is, there'd still be loads in here spending their days picking tops.
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